Court Orders Continued for Great Honest Investment Company Ltd

The High Court made an order today that the Administration Orders on Great Honest Investment Company Ltd and two related companies continue until trial or further order. Great Honest did not oppose the order. (Note 1)

The court also ordered that the Mareva Injunction against Ms Lorrain Chung Yuet Sheung, the majority shareholder of Great Honest, continue until 23 November when the matter will come back before the court (Note 2) and that the Mareva Injunction against Mr Siu Yun Piu continue until trial or further order.

Meanwhile, the prohibition order restricting Ms Chung from leaving Hong Kong remains in force.

Ends

Notes:

1. Please see SFC press release dated 12 November 2007 for details of the SFC’s regulatory action against Great Honest following discovery of prima facie evidence of unauthorised dealings and other irregularities with respect to client accounts and the records maintained by the firm.

2. The order is subject to certain amendments relating to Ms Chung’s obligation to disclose her assets.